Web Development

Crowdfunding Software Development Development

Should developer project crowdfunding be all or nothing, or more flexible?

Crowdfunding operation FundaGeek is trying hard to gain some share of voice in the rapidly crowding venture capital and start up investment space.

Positioned as a software development development (double use intentional) zone, the portal (or website to be more accurate) says it suits all software project types from traditional "shrink-wrap" software, web-based applications, open source software, mobile apps, video games, and so on.

Company CEO and cofounder Daniel D. Gutierrez argues that software development is (or, at least, has been to date) a "very important beneficiary" of the crowdfunding ecosystem.

NOTE: Crowdfunding is explained as a funding mechanism utilizing the power of crowds through social media. Using social networks, it claims that software developers can solicit personal donations in order to fund the budget of their projects. With crowdfunding, you raise the needed funds by offering "Rewards" in exchange for "Pledges". Think of NPR or PBS pledge drives where a large number of donors pledge small amounts in return for simple rewards.

"The use of the funds from a crowdfunding campaign can be varied. Software developers can post a crowdfunding project on FundaGeek to raise funds for a new product, or a new version of an existing product," said Gutierrez.

Looking for its "unique" differentiator, FundaGeek insists that most crowdfunding sites use the "all or nothing" funding model where funding is provided only if the goal amount is met. With FundaGeek, software developers get whatever funding the project has attracted by the end of the campaign.

FundaGeek is a crowdfunding platform expressly for software, technology, scientific research, inventions, community support, and education. There are no up-front fees to use FundaGeek.

In terms of uniqueness, FundaGeek sits in the crowdfunding space alongside Kickstarter, which describes itself as a funding platform for creative projects — everything from films, games, and music to art, design, and technology.

Since its launch on April 28, 2009, over $350 million has been pledged by more than 2.5 million people, funding more than 30,000 creative projects.

According to Kickstarters rules, "Every project creator sets their project's funding goal and deadline. If people like the project, they can pledge money to make it happen. If the project succeeds in reaching its funding goal, all backers' credit cards are charged when time expires. If the project falls short, no one is charged. Funding on Kickstarter is all-or-nothing."

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